World of Oil ///

UK listed oil and gas explorer Gulf Keystone Petroleum has discovered a significant resource of low-gravity oil at its Shaikan-1 well in Iraq’s Kurdish region. The company said oil in-place for the Shaikan-1 well, which was tested to a depth of 2,055 m, was estimated to be a gross 1 billion to 5.3 billion bbl. The company said it continued to drill the well, which was independently evaluated by Dynamic Global Advisors, to a target depth of 3,200 to 3,500 m and it expected the resource estimates to increase.